31st October, 2016 is Last Date for TDS Return Filing Quarter-2 for Fin. Year 2016-17

Today is Last Date of Quarter-2 TDS Return Filing for F.Y. 2016-17

TDS Deductor, we want to look in to the matter that u/s. 234E, there is now a provision of stringent penalties for delayed filing of TDS returns. Therefore, TDS Deductor must file Today the TDS Return of Quarter-2, otherwise they fals to face the following consequences :

Fees and Penalty for Late Filing of TDS Returns are as follows:

Section 234E – Levy of Fees 

• Failure to submit TDS return on time will result in fees on the deductor.
• If you delay or forget to file your TDS return, fees of Rs. 200 per day will be levied on the deductor, as long as TDS return is not filed.
• The levied amount of fee is not supposed to exceed the TDS deductibles.
• Prior to TDS filing such fee should be paid and it should be reflected in the TDS return.

Section 271H – Penalty

• Deductor has to pay a penalty ranging from minimum of Rs. 10,000/- to One Lac rupees,
• If deductor exceeds one year time limit to File TDS return.
• If deductor furnishes incorrect details like PAN, TDS Amount, Payment of Challan etc.

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